Bank of Canada holds rate
The Bank of Canada (BoC) kept its trendsetting interest rate steady at 1.5% during its latest rate meeting Wednesday.
The BoC also kept the door open to a possible rate hike for its next meeting set for October 24th. This is not a shock, as economists have suggested another increase is possible before the year’s out.
The key rate has been raised four times since last June – to 1.5% from 0.5% – most recently on July 11th.
Overall, rates are expected to gradually increase over the next couple of years, returning to more normal levels, since rates have been near historic lows for several years.
Check out this article from the Financial Post. http://ow.ly/yTs730lJihC
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Best fixed rates are as low as *3.29 – 3.69 % for a 5 year fixed,
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**rates subject to change with market conditions – *OAC **conditions apply E. & O. E.
| **Please note that rates shown above are subject to change without notice. The rates shown are posted rates and the actual rate you receive may be different, depending upon your personal financial situation. “Some conditions may apply. Rates may vary from Province to Province. Rates subject to change without notice. *O.A.C. E.& O.E.”
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